Marval acts for banks in Araucaria Energy loan
Argentinian law firm Marval, O’Farrell & Mairal advised Banco de la Ciudad de Buenos Aires, Banco de la Provincia de Buenos Aires and Banco de Galicia y Buenos Aires, which acted as lenders in a $35 million loan to Araucaria Energy and SPI Energy.
In compliance with Argentine Central Bank rules, the loans were granted in US dollars as the funds proceeding will be applied to the financing of the working capital of Stoneway’s plants located in Pilar, Zarate, Luján and San Pedro.
Canadian private equity firm Stoneway Capital Corporation, Stoneway Energy International, Stoneway Energy, Araucaria Power Generation, Araucaria Generation, SPI Energy and Araucaria Energy guaranteed the borrower’s obligations under the loans.
Marval, O’Farrell & Mairal acted as legal adviser to Banco de la Ciudad de Buenos Aires, Banco de la Provincia de Buenos Aires and Banco de Galicia y Buenos Aires, with partner Roberto E. Silva, Jr. (pictured) and associates Martín I. Lanús and Agustín López Roualdès.
Araucaria Energy, SPI Energy and the guarantors were advised by their in-house lawyers Álvaro Eduardo Estivariz and Joaquín Astarloa.
